SINGAPORE–(BUSINESS WIRE)–#DigitalPayments–Pine Labs’ Qwikcilver, a leading provider of end-to-end gift card and stored value solutions in Southeast Asia and India, and foodpanda, Asia’s largest food and grocery delivery network (outside of China), have partnered to launch foodpanda Gift Cards – an enhanced solution that enables foodpanda customers to easily redeem and cart out purchases.
The new Gift Card feature will be first available to foodpanda corporate customers under ‘foodpanda for business’, the company’s dedicated vertical providing corporate solutions. The integration of Gift Cards simplifies the administrative process for foodpanda’s corporate customers as it now lets them easily purchase and share Gift Cards with their employees via the foodpanda for business portal, enabling them to easily keep track of previous purchases and spends. Upon confirmation of orders, recipients will be able to receive their Gift Cards within 24 hours – providing a convenient and fuss-free way for companies to dish out employee benefits that suit any occasion.
For employees, Gift Cards also allow for greater flexibility for usage as unlike vouchers, Gift Cards allow customers to store any unused balance for later use. Gift Cards can also be used on multiple orders, providing customers with more options to redeem their Gift Cards on foodpanda’s many services including purchasing groceries on pandamart and retail specialty goods on foodpanda shops. The Gift Cards powered by Pine Labs Qwikcilver are currently available for purchase in Thailand and Singapore, and will eventually be rolled out to all 11 markets that foodpanda operates in. There are also plans to make Gift Cards available to all customers (including non-corporate) in the future.
Commenting on the partnership, Abhishek Ahuja, Director of Fintech at foodpanda said, “As flexible working becomes the norm, we want to equip companies with the ability to provide their employees with benefits that they can enjoy anytime, anywhere. Together with Pine Labs’ Qwikcilver, we can now offer companies a user-friendly way that they can show appreciation for their employees through Gift Cards, without the additional administrative and payment burden.”
“With presence in more than 400 cities, foodpanda is a name to reckon with in the online food delivery and grocery space. For Pine Labs’ Qwikcilver brand, it is an absolute thrill to partner tech-first company foodpanda and power their gift cards and vouchers program across 11 APAC countries, and this is just the beginning of future collaborations between the two entities,” said Dheeraj Chowdhry, Chief Business Officer – SEA, Pine Labs.
“Our Gift Cards platform is today powering several multinational, large, and small-sized businesses across diverse industry verticals and geographies. Across these clients we have observed that the Gift Cards or voucher-based cards are a very sound business model, delivering attractive financial benefits. With a single card transaction, our brand partners end up with two customers, i.e., the sender and the recipient. We have also observed that customers tend to purchase more than the card value, resulting in increased sales and basket size for our clients,” added Dheeraj Chowdhry.
foodpanda is a leading delivery platform in Asia dedicated to bringing consumers a wide range of food, groceries and more, quickly and conveniently. Powered by technology and operational excellence, foodpanda is spearheading the growth of quick-commerce (q-commerce) across the region with its network of retail partners, as well as pandamart cloud stores to provide more on-demand options beyond the millions of food delivery options. foodpanda operates in more than 400 cities across 11 markets in Asia – Singapore, Hong Kong, Thailand, Malaysia, Pakistan, Taiwan, Philippines, Bangladesh, Laos, Cambodia, and Myanmar. foodpanda is a subsidiary of Delivery Hero, a global leader of the food delivery industry. For more information, visit www.foodpanda.com
About Pine Labs
Pine Labs is a leading merchant commerce omnichannel platform operating across India and Southeast Asia. Pine Labs’ tech-first approach to digital payments and focus on simplification at the front end aims to help many businesses embrace fintech products at scale.
In digital payments, our online payments cloud-based software Plural represents a one-stop payments destination across channels.
Our Issuing business is powered by Qwikcilver – Qwikcilver offers a cutting-edge, full-stack, end-to-end technology service solution in the Pre-paid Transaction Management, Gift Cards, and Sales/ Distribution Space, with a strong presence in multiple countries and live service engagements with leading brands and major customers from the Retail, Hospitality and Airline Industries, across the following geographical regions: South Asia – India, South East Asia and the Far East – Singapore, Malaysia, Indonesia, Philippines, Middle East and Africa – Dubai, Abu Dhabi, South Africa, Europe – Luxembourg and Czech Republic, Australia, New Zealand and Hawaii in the United States of America, at the present moment.
In consumer app, Fave is a fintech platform for the next generation of consumers, providing smart payments and savings, while empowering merchants with a loyalty solution to grow and engage with their customers in a whole new way.
For Pine Labs
Ruder Finn Asia
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